Stablecoins, central bank digital currencies and the new rails of digital cash.
Binance’s decision to discontinue support for XRP and TUSD could potentially impact the sentiment surrounding the coin, sparking various speculations about the underlying reasons. Binance Futures, a segment of the prominent crypto exchange platform, has announced its plans to halt support for XRP and TUSD as margin assets. This move is scheduled to come into … Read more
The financial landscape of the Philippines is on the cusp of transformation as the central bank has authorized Coins.ph to test a pioneering stablecoin in the nation’s vital remittance market. This step marks a significant advance in modernizing the remittance sector, one of the largest globally, with the goal of enhancing its efficiency and accessibility. … Read more
On May 14, Tether, a leading stablecoin issuer, froze $5.2 million in USDT linked to phishing scams. These funds were held in 12 Ethereum wallets tagged as “USDT Banned Address.” SlowMist’s chief security officer indicated that these addresses were used to launder money from phishing scams, without providing further details. Tether, the world’s largest stablecoin … Read more
USDt-TON has reached a significant milestone, with its circulation hitting $200 million within a month of issuance. This rapid growth marks the fastest token circulation in Tether’s USDt history, reflecting increasing demand for USDT within the TON ecosystem. TON celebrated this achievement on Twitter, stating, “$USDt – $TON reaches $200M in circulation in less than … Read more
Brad Garlinghouse, CEO of Ripple, recently remarked that the United States government, under President Joe Biden’s leadership, is targeting Tether, the issuer of the largest stablecoin by market capitalization, USDT. On the social media platform X, Garlinghouse expressed his belief that USDT and Tether are integral parts of the crypto ecosystem and admitted uncertainty about … Read more
The growth of stablecoins, which are cryptocurrencies pegged to the US dollar, played a significant role in the first quarter’s crypto bull market but has stalled since the Bitcoin blockchain’s mining reward halving on April 20. The combined market value of the top three stablecoins, including tether (USDT), USDC, and DAI, which collectively dominate the … Read more
The central bank of the Philippines is initiating controlled trials for a national stablecoin tied directly to the local currency. This stablecoin, known as PHPC, will be tested in collaboration with Coins.ph, a crypto wallet provider, under the supervision of the Bangko Sentral ng Pilipinas (BSP) Regulatory Sandbox Framework. The trials aim to evaluate PHPC’s … Read more
Tether, the largest stablecoin globally, strongly criticized Deutsche Bank’s recent statement, which cast doubts on the sustainability of stablecoins and questioned Tether’s solvency. Deutsche Bank’s research, released on Tuesday, examined 334 currency pegs dating back to 1800 and found that only 14% endured. The research suggested that stablecoins are susceptible to “turbulence and de-pegging events,” … Read more
Slow Mist founder recently disclosed a concerning revelation about a new phishing scam exploiting the Telegram Open Network (TON) transfer mechanism to trick users into receiving apparently low-cost USDT tokens. The scam operates by disseminating deceptive messages on the TON blockchain, falsely suggesting the receipt of substantial amounts of USDT, such as “Received +5,000 USDT.” … Read more
Lightning Labs, led by CEO Elizabeth Stark, has unveiled a groundbreaking development leveraging Bitcoin’s Taproot upgrade to pave the way for stablecoins and tokenized assets on the Bitcoin network. Stark shared insights into this innovation during the FT Live’s Crypto and Digital Assets summit in London, providing traditional finance players with an in-depth explanation of … Read more